Procrastination Only Paid Off in High School, Not Business

Too many times we speak with clients who have waited until the absolute last minute to face their debt issues.  Their back is against the wall, they have not paid their secured creditors in 6 months, they stopped returning calls to their banker 3 months ago and now the lawyers are moving in with foreclosure or receivership.  They spoke with Second Wind several months ago when we told them several strategies for avoiding disaster and measures they needed to take to avoid what lay ahead.  Unfortunately, many of these consultations fall onto deaf ears and the client continues running their business as they had been and all they do is kick the can down the road.

Then, all of the sudden as the bank is moving in, the client comes to their senses.  They call us and say, “yes, I need you guys now!”   Well, of course we are eager to jump in and save the day, but it’s certainly much more difficult.  The client through procrastination has ruined a lot of goodwill with the bank.  His credibility is shot by his previous behavior.  Not returning calls and avoiding discussion is extremely annoying to bankers.  This puts us in a much more difficult position and getting to this point should be avoided at all costs.

Remember, you could get through high school procrastinating.  In the business world it could lead to the loss of your business, home and could cause financial ruin for your entire family.